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With less than 1% of the world’s freshwater readily available for human consumption and demand expected to increase by 40% by 2030, effective governance and management of freshwater supplies is one of the most fundamental public goods challenges of our time.
Yet recent headlines about devastating wildfires and water shortages facing Australia, deadly flooding in Jakarta, and Chennai joining Cape Town and other cities in the struggle to avoid ‘Day Zero’ serve as just the latest reminders of how difficult a task this is becoming.
Already, nearly 25% of the world’s population face looming water crises, and by 2025 the figure is predicted to surpass 60%. In addition to the impacts on human health and ecosystems, water risks are also increasingly material for economic growth and business. The World Bank projects that water scarcity could cost some regions up to 6% of their GDP by 2050. In 2018 alone, companies reported more than $38 billion in financial losses due to water challenges.
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